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AME Info, Abu Dhabi, United Arab Emirates, business briefs column(AME Info (Abu Dhabi, United Arab Emirates) (KRT) Via Thomson Dialog NewsEdge) Feb. 6--KUWAIT POPULATION TO REACH 5.63 MILLION BY 2030: Population in Kuwait is expected to rise to 5.63 million by 2030 according to Amr Merdan, Chief Planner at Kuwaiti Engineering Group. Speaking at The Kuwait Conference 2008, Merdan said that only 40 percent of the population will be local Kuwaitis while the rest will be a mix of multi-national expats. Merdan also revealed that expats will constitute 83 percent of the employment market. GASC SEEKS WHEAT FOR MARCH SHIPMENT: The Egyptian state's main wheat buying agency said it wanted to buy 55,000 to 60,000 tonnes of U.S., French, Australian, Canadian, German, Argentine and/or Kazakhstan wheat for March shipment, reported Reuters. Tenders should reach Egypt's General Authority for Supply Commodities (GASC) by 12 p.m. local time (1000 GMT) on Wednesday and the results should come out around 4:30 p.m. local time (1430 GMT) on the same day. IRAN MAKES $125M INVESTMENT IN PHILIPPINES: Managing Director of the International Petrochemical Company said that Iran made $125m investment in Philippines' petrochemical market and bought a petrochemical plant in that country, reported Tehran Times. Mohammad Hadi Rahbari said that the company has obtained financial resources for technical and professional activities in the petrochemical market.He added that the petrochemical company is currently working on a joint venture project with 500m euros investment to establish a methanol unit in Iran and another in Venezuela. SAUDI'S SAMBA TARGETS $2.4BN: Samba Financial Group, Saudi Arabia's second largest lender by market value, yesterday said it plans a 1-for-2 bonus share issue, raising its capital by 50 per cent to $2.4bn, reported Gulf Daily News. The issue will take place after a general shareholders assembly, Samba said. The bank will also give shareholders a cash dividend of 1 riyal for the second half of 2007. BAHRAIN FIGHTS POVERTY IN THE ISLAMIC WORLD: Bahrain has pledged $2m towards a fund aimed at combating poverty throughout the Islamic world, reported Gulf Daily News. The $10bn Islamic Solidarity Fund for Development is being established within the Islamic Development Bank to support poor countries in the Islamic world, especially in Africa. ARCELORMITTAL TO INVEST $1BN IN EGYPT: ArcelorMittal will invest up to $1bn in a steel project in Egypt, the company's Executive Vice President Sudhir Maheshawri said after winning a licence to operate in the country, reported Reuters. TOP EGYPT FIRMS EXPECT TO GROW BY 35 PERCENT: Aggregate corporate earnings for companies listed in Egypt's benchmark stock index are likely to grow by up to 35 percent in 2008, the chairman of Egyptian investment bank Beltone Financial said, reported Reuters. Aladdin Saba, whose company has about $5.5bn under investment said. To see more of AME Info, go to http://www.ameinfo.com. Copyright (c) 2008, AME Info, Abu Dhabi, United Arab Emirates Distributed by McClatchy-Tribune Information Services. For reprints, email [email protected], call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA. |